AI-Powered Baby Monitor Nanit Raises $14M In Series B Round

May 22, 2018 | Nanit, an Israeli-developed baby monitor that uses computer vision, machine learning and advanced camera sensors to monitor a baby’s sleep cycle and development, announced that it raised $14 million in Series B financing led by new investor Jerusalem Venture Partners (JVP), with additional participation from existing investors Upfront Ventures, RRE Ventures, Vulcan Capital and Vaal Investment Partners. The company that developed Nanit was founded by Dr. Assaf Glazer, Tor Ivry and Andrew Berman in New York and Israel. This latest round of funding brings on JVP Founder and Chairman Erel Margalit as a member of Nanit’s Board of Directors, joining longtime investors Upfront Ventures Partner Mark Suster and RRE Ventures General Partner Will Porteous. Glazer, who serves as Nanit CEO said the company was “redefining the baby monitor space by creating a non-wearable device that provides parents with valuable information about their baby’s sleep development. This is a game changer not only for parents, but for research institutes.” Last month, Nanit announced that its products would launch at US retail chain buybuy BABY® nationwide, selling the Nanit Camera and Wall Mount ($279) and Multi-Stand ($49). “Sleep has become one of the most important factors affecting our health and is part of an emerging category in the global high-tech arena,” said Margalit in a press statement. “Nanit takes the science of sleep one step forward and revolutionizes this field through computer vision and machine learning technology. Just as we know how to monitor our nutrition and physical fitness, Nanit enables the monitoring of each person’s sleeping habits, the first stage starting off with babies. Nanit’s unique home-based camera monitors and analyzes sleep patterns in real-time and updates parents on their children’s quality of sleep, something which directly affects their physical, mental and emotional development.” Nanit’s latest funding round brings its total raised to almost $30 million. The company said it will use the funds to expand its team of world-class computer vision and machine learning engineers and scale production to meet growing retail demand domestically and abroad.